VOC
One person who owns and manages a firm
Sole Proprietorship
Who would want a business License
A sole Proprietor
Fixed payment of wages over a period of time
Salary
Share of Company Profits in the form of
Dividends
Which Business Organization has limited Liability, a huge advantage
A Corporation
What is valued in all workplaces
Time Management Skills
Furniture, equipment, machines, tools
Capital or Assets------You earn Income/Cash
What causes higher wages
high demand, low supply
What category do engineers and surgeons belong in
Professional
The flow of money from Households to firms in the Product Market
Spending
One way to increase your earning potential
Training, Education----Invest in that
What is an example of a price Ceiling
Rent Control
The flow of Money from Firms to Households in the Factor Market
Income, Factor Payments
Ownership of a share in a corporation
Stock
What is an example of differentiation
Color, Service, Innovation, Convenience